Proof that Evosport is thousands in debt and soliciting customers for generation of capital

Proof that Evosport is thousands in debt and soliciting customers for generation of capital

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Proof that Evosport is thousands in debt and soliciting customers for generation of capital

Most of you saw that Benzboost broke the story last week on Evosport's debt and failure to deliver parts to customers. We quoted this debt as in the hundreds of thousands but now have exact up to date figures that were released by Evosport themselves. Where and why would they reveal these figures? They revealed the details in documents seeking investment from a select, hand picked group of customers in order to get money they need flowing in.

Evosport has about $300,000 of debt with a quarter million of back orders that have not been fulfilled. They are cash strapped so they have hand picked a number of their customers to solicit for investment purposes. We have been able to get a hold of the proposal with all the details from more than one source. This investment group is being spearheaded by Jim Brady (James J. Brady of Ringler Associates) who is one of their customers. He is also a CLK63 Black Series owner and it is Black Series owners who are mostly being targeted for investment. Why Jim Brady is doing this for Evosport, we have no clue but will certainly try to find out.

The investment documents are all detailed below. They verify that what was written previously is accurate. We now know the investment amount each customer is being asked to produce is $100k minimum. The documents are dated April 2011 so this information is as up to date as possible. Additionally, we do not know if Jim Brady has already invested as numerous sources have given us varying figures on his own commitment. It could be that he has already committed funds and that they have not been enough to pull Evosport out so other sources are being tapped.

We feel this information is necessary to not only validate our investigative journalism, much of which was already confirmed by customers coming forward to say they had not received their parts as well as JRCART confirming his issues with Evosport, but also to warn potential investors and customers of the current situation. It is irresponsible to continue to collect money from customers who expect delivery of their parts when there are very real issues that affect if Evosport will even continue to be viable. Not to mention that Brad Otoupalik e-mailed BenzBoost with veiled threats about "slander" which this isn't, it is completely factual based on details Evosport has verified in its own documents sent out into the public. Attempting to silence this on MBworld and threaten us only caused more people to be willing to come forward in support of what BenzBoost had the courage to reveal. We will not be pushed around or intimidated by Evosport or anyone else for that matter for providing the community with the truth MBworld hides from them.

You can verify all the information in the documents below. You can also see the questionnaire that attempts to assess just how much money the potential investor has. Evosport's fiscal information is all detailed as well as debt and pending litigation involving a damage claim to a Lamborghini. We have also been told of liens which if it becomes necessary we will look into in much further detail. Evosport is apparently in damage control mode attempting to pay off what they can which we have not been able to verify but have received some anonymous tips stating so. Additionally, one tip stated that Bob Otoupolik's credit cards have been locked but we do not know if this is true. If anyone has any information to verify this tip, do not hesitate to contact us.

It looks like all the Evosport stickies were taken down in the C63 forum.

Quite an interesting development. IIRC, sponsors have to pay for those stickies on MBW. They're gone from the CLK63BS forum as well. Maybe IB is taking this more seriously than originally assumed (by many, I might add)?

It looks like all the Evosport stickies were taken down in the C63 forum.

Wow, that's true. I didn't even realize that.

Originally Posted by c32AMG-DTM

Quite an interesting development. IIRC, sponsors have to pay for those stickies on MBW. They're gone from the CLK63BS forum as well. Maybe IB is taking this more seriously than originally assumed (by many, I might add)?

I think this might be the most interesting development thus far, at least in terms of the functioning of the forum goes. I mean, if Evosport needs to make revenue, why would they choose to remove a big form of advertisement. Must be something else, like you suggested.

It looks like all the Evosport stickies were taken down in the C63 forum.

I have noticed some subtle changes, as I am sure we all have, since Superlubricity was taken on as a moderator. I think he was brought on board with this evolution in mind. For lack of any better information I will give him credit for the idea of cleaning up the stickies in C63 Forum.

I have noticed some subtle changes, as I am sure we all have, since Superlubricity was taken on as a moderator. I think he was brought on board with this evolution in mind. For lack of any better information I will give him credit for the idea of cleaning up the stickies in C63 Forum.

Why would a moderator want to remove Evosport product threads? If IB owns the site, then they are probably behind the removal of the stickies? I'm just saying that IMO if it was in IB's interest to keep the Evosport stickies up, they would be there.

Super has done a great job at cleaning up the Stickies and making some really good ones like the weight reduction thread and the 1/4 mile thread.

I will say that it makes sense for some of the Stickies to come down because some of them had to do with Evosprot product guides and development that were not updated in some time and did not have any recent discussion.

Quite an interesting development. IIRC, sponsors have to pay for those stickies on MBW. They're gone from the CLK63BS forum as well. Maybe IB is taking this more seriously than originally assumed (by many, I might add)?

Maybe IB just got tired of the negative press?

Originally Posted by JRCART

Same in Black Series section

I didn't see that but it does make sense to be removed there too.

Originally Posted by Sonny

Wow, that's true. I didn't even realize that.

I think this might be the most interesting development thus far, at least in terms of the functioning of the forum goes. I mean, if Evosport needs to make revenue, why would they choose to remove a big form of advertisement. Must be something else, like you suggested.

I have noticed some subtle changes, as I am sure we all have, since Superlubricity was taken on as a moderator. I think he was brought on board with this evolution in mind. For lack of any better information I will give him credit for the idea of cleaning up the stickies in C63 Forum.

Agreed. I think super has done a fantastic job in the C63 forum.

Originally Posted by Sonny

I will say that it makes sense for some of the Stickies to come down because some of them had to do with Evosprot product guides and development that were not updated in some time and did not have any recent discussion.

+1

The only posting in the Evosport sticky threads lately have been from people complaining about availability
or not getting an ordered product. Maybe this was just a way to deflect more negative press away from
Evosport? No stickies on the top page, no people posting complaints on them for all to see?

FWIW, the accedited investor document is standard boiler-plate for such an offering. If interested:

Absolutely, it is, just kind of awkward to be targeting certain customers with it and how they want to know just how many millions one is worth for what is a $100k investment. Just feels weird right? And for a customer to be the one who is doing it all on their behalf? Just all feels off.

Yes sir, accurate and that is something we take pride in. We just did not realize the enormity of the situation and the level to which they are trying to raise funds from customers seemingly to cover their own behinds.

Quite an interesting development. IIRC, sponsors have to pay for those stickies on MBW. They're gone from the CLK63BS forum as well. Maybe IB is taking this more seriously than originally assumed (by many, I might add)?

Let's hope they are... I doubt IB even realized the full extent of what was going on.

Yes sir, accurate and that is something we take pride in. We just did not realize the enormity of the situation and the level to which they are trying to raise funds from customers seemingly to cover their own behinds.

Very nice work Sticky.

Maybe we can recruit your talents and have you find out what happened to Jimmy Hoffa?